RSM Australia

Tax insights

Technological disruption with Domenico Giuliano - Magellan Asset Management

8 January 2018
RSM in Perth's Office Managing Partner Con Paoliello caught up with Domenico Giuliano from Magellan Asset Management to discuss technological disruption.

Fringe Benefits Tax – When is private vehicle use exempt?

19 December 2017
ATO releases draft guidelines to assist employers determining Fringe Benefits Tax (FBT) exemptions for employee’s private use of vehicles.  The draft Practical Compliance Guideline (PCG) considers FBT exemptions often used by employers in respect of utilities, vans and eligible dual cabs.

ATO extends lodgement date for Country-by-Country Reporting for December year ends

24 November 2017
The Australian Taxation Office (“ATO”) announced this week an extension of the due date for lodgement of the Country-by-Country report, master file and local file (collectively “CbCR”), from 31 December 2017 to 15 February 2018 for taxpayers with an income year ended on 31 December 2016.

New GST Legislation released - Developers and Home Builders beware

10 November 2017
On 6 November 2017, Treasury published an Exposure Draft of legislation that will require purchasers of new residential premises and lots in new residential subdivisions to pay an amount equal 1/11th of the

Will passive income affect your entitlement to be taxed at 27.5%?

10 November 2017
The Parliament recently introduced legislation that seeks to tax corporate entities at the full 30% tax rate where more than 80% of the company’s income for the year is base rate passive income.   A recap of the current law

Long-term construction contract ruling | Draft ruling issued

31 October 2017
In 1987, Aretha Franklin finally got the respect she deserved by being the first woman inducted into the Rock ‘N’ Roll Hall of Fame. Also that same year, the Australian Taxation Office (ATO) released Income Tax Ruling IT 2450 to determine how to return income and recognise expenses on long-term construction contracts.

Is the ATO watching you and you don’t even know it?

19 September 2017
The ATO is always keen to ensure that the tax system is fair and that all Australian taxpayers are paying the right amount of tax on their income.

Western Australian State Budget Announcement

8 September 2017
A budget for Western Australians to be owned by Western Australians. This was the line the State Treasurer used as he released his first State Budget in office.  

ATO focus extended to superannuation guarantee non-compliance

30 August 2017
The Australian Government has announced increased funding for the ATO in order to focus on employer underpayments of compulsory superannuation contributions.  

Corporate Tax Rate reductions and the impact on shareholders

14 August 2017
In the 2016–17 Budget, the Government announced its intention to reduce the corporate tax rate from 30% to 25% by the 2026-27 income year.  These changes were outlined in the Treasury Laws Amendment (Enterprise Tax Plan) Bill and after minor amendments by the Senate, received Royal Assent on 19 May 2017.

Pages